POP STORM

Parametric Online Platform for Windstorm Insurance

What is POP STORM?

POP STORM is a digital risk transfer platform that provides small and medium-sized companies (SMEs) with access to our proprietary index-based STORM product.

Smaller premiums, full automation and a user-friendly interface can take you from an indication to a bound policy in seconds.

How does it work?

Developed with brokers and customers in mind, POP STORM is user-intuitive, efficient and requires very little information to get started.

With just a few clicks, the platform delivers a quote to the broker who can then share it with the customer and bind the policy directly, within seconds.

•    Parametric trigger is based on the independently reported wind speed at a point within less than half a mile of the insured’s location

•    When the wind speed exceeds a set parameter, the customer gets a payout within 30 days

•    Funds can be used flexibly (i.e. property replacement, repair costs, business expenses, lost revenue, and other immediate economic needs)

•    Proof of loss is required

Where is it available?

POP STORM is currently available to businesses with locations in Alabama, the Carolinas, Florida, Georgia, Mississippi, Louisiana, and Texas.

Tags

commercialinsurance innovativerisksolutions parametricsolutions insurtech

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